Mays Landing Multifamily
5616 Atlantic Avenue Mays Landing, NJ 08330
5616 Atlantic Avenue, Mays Landing, NJ, 08330
$450,000
For Sale
$450,000
MULTI_FAMILY - Mays Landing, NJ
Property Size2,414 SF
Lot Size0.37 Acres
Price / SF$186.41
Days on Market85
Property Features for 5616 Atlantic Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Basement
- Partial
- Standard status
- Active
- APN
- 12-00988-0000-00002
- Size
- 2,414 SF
- Lot size
- 0.37 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5410
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 4
Listing agency
HomeSmart First Advantage
(732) 352-1000
Listed by
David Kandel · License #1969173
(732) 352-1000
Added: Apr 29 Checked: Jul 22 at 1:06PM
MLS# 22612185
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property in Mays Landing, NJ, presents an investment opportunity with four units. The main house contains three units, including a vacant 2-bedroom, 1-bath unit on the first floor and a vacant 3-bedroom, 1-bath unit on the second floor, which was previously rented for $1550 per month. Additionally, there is a fully renovated 1-bedroom owner's suite located at the rear of the main house, which cannot be rented. A separate 1-bedroom, 1-bath cottage is currently rented for $1175.00 per month. The property includes a shared laundry room in the basement, accessible from the outside. There is also an outdoor shed and parking space for eight cars. Situated on a wooded side street, the property is close to the town's amenities. The lot size is 0.37 acres and the property size is 2414 square feet. The property is being sold in As-Is condition, with the buyer responsible for all certifications, inspections, and repairs.
Key Highlights
- Four‑unit property built in 1920: 3 units in the main house plus a separate 1‑bedroom cottage
- Unit #1: 2BR/1BA on the 1st floor, currently vacant
- Unit #2: 3BR/1BA on the 2nd floor, currently vacant (was renting for $1,550/month)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.4k | $30.00 |
| − Vacancy | −$5.4k | −$2.25 |
| EGI | $67.0k | $27.75 |
| − OpEx | −$30.1k | −$12.49 |
| NOI | $36.8k | $15.26 |
2,414 SF · lease $30.00/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$609.4K
$533.2K – $711.0K
NOI $42,659 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$526.3K
$460.6K – $614.1K
NOI $36,844 @ 7.0% cap · market cap 8.19%
Theoretical Best
Warehouse
$776.7K
$679.6K – $906.1K
NOI $54,367 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four units, including a renovated owner's suite and separate cottage.
Where is this quadplex located?
The property is located at 5616 Atlantic Avenue Mays Landing, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four‑unit property built in 1920: 3 units in the main house plus a separate 1‑bedroom cottage; Unit #1: 2BR/1BA on the 1st floor, currently vacant; Unit #2: 3BR/1BA on the 2nd floor, currently vacant (was renting for $1,550/month)
